What was it like at Walton International? To be on the front lines back during the “good years” – to be an employee in one of their offices?
Recently, we were contacted by a former employee of Walton and what they have told us should rock both the Alberta Securities Commission and Walton brass to the core. How could the ASC allow Walton to go essentially unchecked for years when dozens of people were coming forward with unbelievable stories of their losses with Walton.
Some of the former employees comments include:
- Physically scared to answer the phone because they were told the lines were tapped. Bosses told staff to hang up the phone if anyone asked too many questions – specifically about the open offerings.
- Mail was often sent to head office via FedEx but staff were told to hand fill in the form with Non-Walton information and drop them off directly at the station as opposed to having FedEx come to the office.
- “One of the VP of Sales would come into the Walton office with brief cases of cash after meeting with foreign investors. Amounts were over $200,000 in cash. He would ask us to deposit the cash at a nearby bank, but the Administrators in the office would refuse.”
- “Doherty was a scary fellow” – they indicated they met him briefly but he was never formally introduced to many of the staff.
- “The staff parties were lavish to say the least. Monthly steak dinner’s at Hy’s Steakhouse. They had to dump.money every month apparently.”
- Employee was terminated only a day before their 3 months without cause. From what they heard, “Walton only kept a Receptionist for 3 months at a time and thinks they did this before they knew too much mostly likely.”
Shame on Walton and shame on the regulators for allowing these people the run of the town – do forget, we have spoken to foreign investors that indicated the were invited to Calgary, Canada to tour the Walton business model – and this included a trip to the Alberta Securities Commission. And letters in lawyers letterhead indicating the ASC had given Walton a free-pass.
Shame on you all!